PBM Market Competition Will Remain 'Robust' After CVS-Aetna Merger, House Panel Told
CVS General Counsel Thomas Moriarty maintained merger will not involve consolidation of PBM market share.
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PBMs have become a central focus of the drug pricing debate, thanks in large part to the biopharma industry’s efforts to shine a spotlight on the role of rebates and middlemen in consumer costs. They were also a surprising focus on a hearing about health industry consolidation.
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The pharmacy retail chain and drug distributor will buy the insurer for $69bn in a merger to build what the companies say will be a new, more affordable healthcare concept.